From Longman Dictionary of Contemporary Englishbankruptcybank‧rupt‧cy /ˈbæŋkrʌptsi/ ●●○ noun (plural bankruptcies)1[countable, uncountable]BMONEY the state of being unable to pay your debts syn insolvencyIn 1999 it was revealed that he was close to bankruptcy.When inflation rises, so do bankruptcies.2[uncountable]NOT HAVE a totallack of a particular good qualitythe moral bankruptcy of terrorism